Beloved Texas chain Shipley Do-Nuts has been acquired by a California private equity firm

A spokesman for Peak Rock Capital announced Monday that the Austin-based firm had sold Shipley to Leichtman Capital Partners, based in Beverly Hills. Also included in Leichtman’s portfolio are Cici’s Pizza and Nothing Bundt Cakes.

Shipley Do-Nuts, one of the largest donut companies in the country, got its start as a small Houston shop in 1936. Now, the nearly 90-year-old business has more than 375 stores operating in 14 states.

In a statement to KHOU, Peak Rock officials say they sold the brand after 18 consecutive quarters of steady sales growth, during which the ownership group ushered the legacy business through an era of reinvention and introduced it to a new generation of customers.

Shipley Do-Nuts joins other beloved Texas chains that have sold to out-of-state ownership, among them San Antonio-based Whataburger, which is now owned by Chicago private equity firm BTD & MSD Partners.

At least we still have Buc-ee’s and H-E-B, eh?

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This article appears in Jul 23 – Aug 6, 2025.